This invention relates to machines for dispensing currency, and more particularly to machines for dispensing both rolled and loose coins as well as bills contained in tubes.
Retail stores use a substantial amount of coins and small bills, e.g., ones, fives and tens, to make change throughout their business day. In most cases, the currency amounts of coins and small denomination bills given out as change substantially exceeds the amount of such coins and bills taken in. Consequently, such retail stores require a ready source of coins and small bills to replenish those given out as change.
Keeping a large supply of coins and small bills on hand is one way of solving the problem. However, this creates serious security problems. Retail establishments prefer to minimize the amount of cash accessible to the store attendant to reduce not only the amount of money which a robber might be able to get, but also to reduce the incentive to rob such establishments. A common practice therefore is to provide a locked device that the attendant cannot open and into which the attendant deposits cash receipts, keeping only a minimal amount in the cash register. However, minimizing the amount of cash to which the attendant has access increases the chances that the establishment will run out of change.
Often in these environments, retailers use time-delay cash control devices to minimize the amount of cash exposed in cash drawers. Retailers, particularly convenience stores and fast food restaurants, typically demand that cashiers have no more than $50.00 in their cash drawers at any time. Retailers typically deposit large denomination notes ($10, 20, 50, 100 bills) and dispense smaller denomination notes and coins ($1, 5, and all denominations of coin). Some states have legislated limits on convenience stores, such that stores may have no more than $20.00 exposed at certain times of the business day in order to provide a safer environment for employees.
One solution to this problem is disclosed in U.S. Pat. No. 4,940,162 to Thie. Thie teaches a dispenser for dispensing rolled coins and bills placed into tubes. However, the rolled coins used in Thie only come in particular quantities, such as a ten dollar roll of 40 quarters. Therefore, sometimes, a cashier has to withdraw a significant amount of money when all the cashier needs is a small amount. With the advent of the dollar coin, a new problem has emerged. U.S. banks have standardized on wrapping the new dollar coin in paper rolls, in quantities of $25; an amount that makes dispensing rolls of dollar coins dangerous because it dramatically increases the amount of cash in a drawer. Dispensing a $25 roll may be illegal in those states that allow no more than $20 exposed at certain times.
The present invention is an apparatus, which is a combination of a cylindrical object dispenser, and a loose coin dispenser, in a single case controlled by a central controller. In one embodiment of the present invention, the cylindrical object dispenser is designed to dispense rolled coins and paper currency placed in tubes. The controller is electrically connected to a display device for displaying information to a user. The controller is also electrically connected to a data entry device where a user can enter data and make transaction choices.
The case may also have a drop box located inside, with a drop slot located on the exterior of the case. Valuable goods such as checks, postage stamps, food stamps, and food coupons may be deposited inside of the drop box. Upon deposit of valuable goods in the drop slot, a value and description of the goods is entered into the data entry device.
The apparatus also has a printer for printing transaction receipts and reports. In another embodiment of the present invention, the apparatus has a bill reader electrically connected to the central controller. Bills received by the bill reader may be deposited within the apparatus and may be used to purchase rolled coins, paper currency placed in tubes, and loose coins.
In an additional embodiment, the apparatus also has a coin validator electrically connected to the central controller. Coins received by the coin validator are stored in a bin for later pickup. In an alternative embodiment, loose coins received by the coin validator are conveyed to an appropriate loose coin dispenser. Coins received by the coin validator may be deposited within the apparatus and may be used to purchase rolled coins, paper currency placed in tubes, and loose coins.
The case has an ejection slot where the cylindrical objects are dispensed. Within the slot for cylindrical object dispensation is an additional slot where the loose coins from the loose coin dispenser are dispensed. In an embodiment, the slot for loose coins is formed as a rounded cup, so that a user can scoop up the loose coins.
The apparatus can communicate with other devices such as an external printer, a point of sale machine, a bill reader, a coin validator, and a check validating device. The communication may be done through, for example, a serial, parallel, modem, network or satellite connection, or through the Internet.